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Uhuru Growth Fund I

Region and countries in which the fund invests: Africa / Nigeria, Ghana, Cote d’Ivoire, Mali, Burkina Faso and Senegal
Jurisdiction of registration: Luxembourg
Business sector: Generalist fund
Signing date (month/year): 3/2021
Size of Finnfund’s financing (commitment): USD 10,000,000
Share of Finnfund’s financing: n/a
Environmental and social categorisation: FI-B
Names of companies financed by fund: –
Business sectors of companies financed by the fund: –

In the case of investment funds, the share of Finnfund’s financing (%) is disclosed after the final closing of the fund.

Brief description

Uhuru Growth Fund I is a mid-market private equity fund that will provide growth capital to mid-market companies across West Africa, with the focus on Nigeria, Ghana, Cote d’Ivoire, Burkina, Faso, Mali and Senegal. Uhuru Growth Fund I will invest in high growth sectors, with emphasis on consumer-related sectors and financial services.

Main development impact

The Fund’s priority target sectors of consumer goods and financial services typically have large development effects. The generalist fund financing growth oriented companies is expected to create employment effects, local production and tax revenues.